Silverstein, Port Authority Reach
Agreement for World Trade Center

By

Alex Frangos

Updated April 26, 2006 4:44 p.m. ET

NEW YORK --World Trade Center developer Larry Silverstein and the site's owner, the Port Authority of New York and New Jersey, reached an agreement today that paves the way for significant construction to begin at Ground Zero, four and half years after terrorist attacks destroyed the Twin Towers.

"This is a real turning point in the development of lower Manhattan," said Anthony R. Coscia, chairman of the Port Authority.